Show simple item record

dc.contributor.authorBasco, S
dc.contributor.authorTang, JP
dc.date.accessioned2020-12-14T05:57:28Z
dc.date.available2020-12-14T05:57:28Z
dc.date.issued2020-06-01
dc.identifier.citationBasco, S. & Tang, J. P. (2020). The Samurai Bond: Credit Supply, Market Access, and Structural Transformation in Pre-War Japan. The Journal of Economic History, 80 (2), pp.457-500. https://doi.org/10.1017/S0022050720000212.
dc.identifier.issn0022-0507
dc.identifier.urihttp://hdl.handle.net/11343/254060
dc.description.abstractWhile credit supply growth is associated with exacerbating financial crises, its impact on long-run growth is unclear. Market access similarly has ambiguous economic effects over time. Using regional variation in bond payments to samurai and the introduction of railways in nineteenth century Japan, we find that together they are associated with persistent redistributive effects between regions and sectors. Areas with higher bond value and railway access experienced tertiary sector growth and primary sector shrinkage, with analogous results in sectoral labor shares. This interaction between credit supply and market access facilitated structural transformation but had little long-run net growth impact.
dc.languageEnglish
dc.publisherCambridge University Press (CUP)
dc.titleThe Samurai Bond: Credit Supply, Market Access, and Structural Transformation in Pre-War Japan
dc.typeJournal Article
dc.identifier.doi10.1017/S0022050720000212
melbourne.affiliation.departmentEconomics
melbourne.source.titleThe Journal of Economic History
melbourne.source.volume80
melbourne.source.issue2
melbourne.source.pages457-500
melbourne.elementsid1446817
melbourne.openaccess.urlhttp://diposit.ub.edu/dspace/bitstream/2445/167197/1/702213.pdf
melbourne.openaccess.statusAccepted version
melbourne.contributor.authorTang, John
dc.identifier.eissn1471-6372
melbourne.accessrightsAccess this item via the Open Access location


Files in this item

FilesSizeFormatView

There are no files associated with this item.

This item appears in the following Collection(s)

Show simple item record